Transaction Confirmation

More protection for sensitive transactions

Transaction confirmation provides an additional level of security on top of authentication for things like online payments.

Conveniently confirm digital transactions

Transaction confirmation is a level of security required for certain financial transactions and information updates. It is used when users have to check and confirm specific information on top of authentication. Transaction confirmation increases protection against potential fraudulent attacks, which might be caused by malware.

Examples of possible transaction confirmations:

• Do you want to transfer money from A to B?
• Do you want to approve your new insurance policy?
• Can you confirm that your daughter has access to your bank account?

The users receive this information and then confirm with a fingerprint or pin that they have read and accepted it.

Benefits of transaction confirmation

Nevis offers generic transaction confirmations in its mobile access app. This goes beyond payment transaction confirmations to include agreements of terms or consents to data usage. It enables online service providers to request cryptographically signed, legally binding transaction confirmations. This is required by new regulations like GDPR and PSD2 or national requirements like collecting consent for the processing of health information.

• Protection of payment transactions
• Legally binding, cryptographically signed agreements and consents 
• Complies with GDPR, PSD2 standards as well as those on the processing of health information

Which verticals and industries benefit from transaction confirmation?

Companies for which the highest level of security for customer transaction matters – like banks, where the user has to review the amount after authentication, or webshops, where the purchase has to be confirmed. Mobile applications from public institutions also stand to benefit from added security, for example when submitting tax declarations.